“…Classical economists focused on the theoretical frame of innovation (Malerba 2000, Kurz 2010). In particular, Adam Smith considered technical progress, embodied in capital assets, which would lead to labour specialisation and consequently to productivity increase (in Malerba 2000). David Ricardo analysed the technical change tracing the relation among innovation, reduction in prices and increase in demand, which appears to have some influence on the employment level (in Kurz 2010).…”